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an increasing bizarre saga. congressman jesse jackson jr. resigned today. two weeks ago he was re-elected despite disappearing from public view days earlier. we learned he was being treated for a disease, now, a cloud. there is a federal investigation. here is nbc's kelly o'donnell. >> reporter: today, a once promising political career is officially over, with an end marked by spiraling legal troubles, jesse jr., the son of the famed civil rights leader, gave up his seat in congress after 17 years in a letter, he wrote in part, my health issues and treatment have become incompatible with service in the house of representatives. jackson has been in the hospital on and off since june for treatment of bipolar disorder, seen here while a patient at the mayo clinic. today, cook county officials are weighing options for a special election to replace jackson. >> and i think he feels that the district he represents, somebody should be there in a healthier condition than he is. >> reporter: but jackson makes striking admissions about his mistakes, talking to the justice department as they examine
house republicans elected by the more conservative group and the white house. we have a long way to go. >>> chuck todd on the white house lawn for us, thank you, and with due respect, while washington is one thing, and we know how they act. if this happens it will affect american lives and households millions strong. >>> tonight, we asked sharon epperson to go over this with us, it would be about personal finance >> it certainly would be, brian, and we're talking about nearly every taxpayer that will be affected. the first place you will see it is on your federal tax rate going up for middle income americans. we're talking about $2,000 a year extra that you will pay. and as the tax rate goes up, whether you have a job or are living off your 401(k) or retirement money, you will see your percentages that you pay on that income significant. we'll also see an increase on the payroll tax, so somebody making say, $50,000 a year will see 20 extra a week that they will pay, or more than a thousand on the year. and here is the big one, the alternative minimum tax. about 27 million people will b
. during last year's failed talks on a grand bargain and more recently in his first post election press conference. >> we have to continue to take a serious look at how we reform our entitlements because health care costs continue to be the biggest driver of our deficits. >> reporter: mr. obama has insisted tax rates must rise. today a top democrat signalled openness to the republican stance. revenue could be raised by closing loopholes and limiting deductions. >> they have to go up either real tax rates or effective tax rates. >> reporter: tax begin this week amid tentative steps toward common ground. >> we can't go off the fiscal cliff. we have to show the world we're adults. the election is over. >> reporter: one ceo of honeywell said there's so much uncertainty hanging over the economy because business isn't confident that washington can go its basic job. he says people like me just aren't hiring. kate. >>> mike viqueira at the white house. senator john mccain softened his tone after vowing to block the nomination of u.n. ambassador susan rice to be hillary clinton's successor. he a
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